Oil Stabilises Amid Iran Tensions and Supply Fears

Crude oil prices held steady on Wednesday, with WTI trading around $64.39 and Brent holding above $69, as markets weighed geopolitical risk against growing supply concerns. Optimism around continued US-Iran nuclear talks offered some support, but conflicting signals quickly tempered sentiment.

Iran’s Foreign Ministry said negotiations were serious enough to continue following talks in Oman, raising hopes that diplomacy could ease tensions. However, those expectations were offset after US President Donald Trump warned that a second aircraft carrier could be deployed to the Middle East if talks stall, keeping geopolitical risk firmly in play.

At the same time, supply-side pressure intensified after the latest API report showed a massive 13.4 million barrel surge in US crude inventories—far exceeding market expectations. The unexpected build has put traders on alert ahead of the official EIA data, which could confirm whether the supply increase is as large as reported.

Read more on how US-Iran tensions, inventory data, and technical levels are shaping oil’s next move.